The Local Authority has now launched the new Stronger Schools Financial Programme (SSFP), providing a clearer and more consistent framework for supporting schools in maintaining long-term financial sustainability.

Developed in response to feedback from schools, the SSFP builds on the previous Schools Facing Financial Challenges programme and introduces a more transparent approach to financial monitoring, support and intervention. The framework is designed to ensure that support is proportionate to individual circumstances, recognising that schools face differing levels of financial challenge.

All maintained schools have now received confirmation of their current financial risk profile, together with details of the monitoring and support arrangements associated with that profile. Risk categories range from Low to Very High and are based on a range of financial indicators.

Alongside the policy, the Local Authority has introduced new tools to support financial planning, recovery planning and organisational change, including the Financial Budgeting and Recovery Plan and Restructure Workings Templates. These resources, together with the SSFP policy and guidance documents, are available on the Schools Hub- please see update below.

The programme aims to strengthen collaborative working between schools and the Local Authority by providing appropriate support, challenge and guidance to help schools navigate financial pressures and maintain educational outcomes for children and young people.

Schools forecasting an in-year deficit are reminded that a Licensed Deficit Application and Recovery Plan must be submitted by 16 November.

For further information, please contact the Education Finance Team at EducationFinance@WalthamForest.gov.uk.